So many members of the financial press were having a good time tweeting at the Fed Centennial conference last week at Stanford that, according the “TweetReach Report,” about 1 million Twitter accounts were reached and 10 million tweets were delivered about the hashtag #hooverfedconference. Here is a photo of the post-conference press conference.

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About

The Working Group on Economic Policy brings together experts on economic and financial policy at the Hoover Institution to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals. Read more...

Guest Speakers: Charles Calomiris (Professor of Financial Institutions at the Columbia Business School) and Stephen Haber (Professor in the School of Humanities and Sciences at Stanford, and Senior Fellow at the Hoover Institution)

Guest Speakers: Michael Bordo (Hoover Institution National Fellow and Professor of Economics and Director of the Center for Monetary and Financial History at Rutgers University, New Brunswick, NJ), and Owen Humpage (Senior Economic Advisor at the Federal Reserve Bank of Cleveland)

Guest Speaker: Dan Kessler (Hoover Institution Senior Fellow, Professor, Stanford GSB and Stanford Law School, and by courtesy, of health research and policy in the Stanford School of Medicine) and Gary Becker (Hoover Institution Senior Fellow and Professor of Economics and Sociology, University of Chicago)

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Significant gifts for the support of this working group are acknowledged from

Lynde and Harry Bradley Foundation

Preston and Carolyn Butcher

Stephen and Sarah Page Herrick

Michael and Rosalind Keiser

Koret Foundation

William E. Simon Foundation

John A. Gunn and Cynthia Fry Gunn

The Working Group on Economic Policy brings together experts on economic and financial policy at the Hoover Institution to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

For twenty-five years starting in the early 1980s, the United States economy experienced an unprecedented economic boom. Economic expansions were stronger and longer than in the past. Recessions were shorter, shallower, and less frequent. GDP doubled and household net worth increased by 250 percent in real terms. Forty-seven million jobs were created.

This quarter-century boom strengthened as its length increased. Productivity growth surged by one full percentage point per year in the United States, creating an additional $9 trillion of goods and services that would never have existed. And the long boom went global with emerging market countries from Asia to Latin America to Africa experiencing the enormous improvements in both economic growth and economic stability.

Economic policies that place greater reliance on the principles of free markets, price stability, and flexibility have been the key to these successes. Recently, however, several powerful new economic forces have begun to change the economic landscape, and these principles are being challenged with far reaching implications for U.S. economic policy, both domestic and international. A financial crisis flared up in 2007 and turned into a severe panic in 2008 leading to the Great Recession. How we interpret and react to these forces—and in particular whether proven policy principles prevail going forward—will determine whether strong economic growth and stability returns and again continues to spread and improve more people’s lives or whether the economy stalls and stagnates.

Our Working Group organizes seminars and conferences, prepares policy papers and other publications, and serves as a resource for policymakers and interested members of the public.

Contacts

For general questions about the Working Group, please contact John Taylor or his assistant Marie-Christine Slakey at (650) 723-9677. For media inquiries, please contact our office of public affairs.

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